Why are demand curves downward sloping?
When the price of commodity increases, its demand decreases. ... Similarly, when the price of a commodity decreases its demand increases. The law of demand assumes that the other factors affecting the demand of a commodity remain the same. Thus, the demand curve is downward sloping from left to right.
Related posts:
- What 3 things make demand slope downward? - There are at least three accepted explanations... (Read more)
- What is downward sloping curve? - The demand curve is downward sloping, indicating... (Read more)
- Why do supply curves slope upward? - The supply curve slopes upward, reflecting the... (Read more)
- Why is supply upward sloping 3 reasons? - 3 Reasons the Supply Curve Slopes Upwards1.... (Read more)
- What shifts the supply curve? - Factors that can shift the supply curve... (Read more)
- What are the 5 shifters of supply? - Supply shifters include (1) prices of factors... (Read more)
- What are the six demand shifters that can affect the demand curve? - Aside from price, other determinants of demand... (Read more)
- What affects the demand curve? - In addition to the factors which can... (Read more)
- What can affect demand? - The demand for a good depends on... (Read more)
- What are 2 things that can impact supply? - Summary: What Factors Shift Supply? Changes in... (Read more)